Sunday , September 20 2020
Home / Uncategorized / Developer Reveals Token Reward Platform Fueled by Bitcoin Cash

Developer Reveals Token Reward Platform Fueled by Bitcoin Cash

There’s a brand new crypto platform referred to as Honeypoints that simply launched for beta testing on Apple’s Testflight. The digital forex utility created by two former staff goals to gasoline service provider adoption with loyalty rewards. The Honeypoints app is supposed to stimulate retail acceptance by rewarding prospects with distinctive crypto tokens after they make a purchase order or present loyalty.

Additionally Learn: SLP Builders Publish Specs for a Distinctive Kind of Non-Fungible Tokens

Honeypoints: An SLP Token Reward Platform Constructed on the Bitcoin Cash Community

Final week on the Strive Swift convention in New York, former software program engineer Jean-Baptiste Dominguez unveiled a brand new crypto-based rewards utility powered by the Bitcoin Cash (BCH) chain referred to as Honeypoints. The most recent SLP undertaking was additionally designed by’s former developer Alfonso Rocha, and each cofounders intention to “make cryptocurrencies obtainable to everybody.” The brand new utility is at present in beta for iOS units and the Honeypoints crew plans to launch worldwide on Sep. 30. Mainly, the Honeypoints platform acts as a crypto pockets that permits customers to retailer BCH and Easy Ledger Protocol (SLP) tokens. However the utility’s essential function permits anybody to assemble a loyalty program that rewards patronage with SLP token rewards. On the Strive Swift convention, attendees bought their first glimpse of the highly effective SLP protocol mixed with BCH and Dominguez advised the viewers how retailers and types can create Honeypoint reward packages.

“We empower companies and people to retain their prospects by means of a crypto-currency reward token — Coming quickly,” the web site reads.

Developer Reveals Token Reward Platform Fueled by Bitcoin Cash

After making a customized Honeypoints card system retailers can reward crypto tokens to prospects who make purchases in-store or on-line. Retailers and types might additionally reward patrons who share social media posts on Twitter, deal with a specified activity, and even be rewarded for merely visiting an internet site. Dominguez and the Honeypoints crew hopes to see the SLP token system mature significantly with tokenization bringing the identical worth to the desk because it did with Ethereum. Whereas demonstrating the brand new platform, Dominguez advised the Strive Swift attendees that “you don’t want a growth crew to have your enterprise-grade system in your most loyal prospects.” The software program engineer added:

We don’t need anyone to be confused or scared by the idea of cryptocurrencies. We simply need them to get pleasure from the advantages of the expertise. Every little thing that we’ve completed, from the idea to the app itself, is designed to be useable for everybody immediately.

Developer Reveals Token Reward Platform Fueled by Bitcoin Cash
Software program engineer Jean-Baptiste Dominguez on the Strive Swift occasion in New York.

Testing Honeypoints Beta Model

Utilizing the Honeypoints utility is intuitive for anybody who has used a crypto pockets earlier than, nevertheless it’s additionally easy sufficient for crypto newcomers as nicely. The pockets facet of the app can retailer ship and obtain BCH, alongside the power to retailer SLP tokens in a noncustodial trend. Honeypoints makes use of a four-digit PIN to safe the pockets and a mnemonic seed phrase for backup and restoration functions. The PIN is required if you wish to entry the mnemonic’s 12-words and provoke a pockets restoration course of as nicely. Proper now, the beta pockets reveals you balances in BCH and SLP tokens and likewise allows you to buy BCH for fuel. If somebody randomly sends you a token to your Honeypoints pockets, you’ll be able to select if you wish to add it to the pockets’s stability or not. On the underside proper there’s a compass icon that claims Discovery which reveals how folks can earn reward tokens by tweeting one thing from their Twitter account or dealing with one other activity. As an illustration, on the Honeypoints beta model, there’s a “Spice Should Move” activity obtainable and if you happen to share a meme from the Spicefeed on Twitter you get 200 spice.

Developer Reveals Token Reward Platform Fueled by Bitcoin Cash
A have a look at the beta model of Honeypoints.

The beta model additionally offers you the power to forge a brand new SLP token from the pockets interface by urgent the “Create token” tab. You’ll be able to customise the SLP token’s title, ticker, amount, variety of decimals, tether a doc URL, and select if the minting baton will probably be lively or not. Similar to the remainder of the SLP functions out within the wild at the moment, a small fraction of BCH (fuel) is required to create tokens and ship them as nicely. The Honeypoints beta launch from Apple’s Testflight additionally permits customers to toggle between the BCH livenet and testnet.

‘Bitcoin Cash Improvement and Consciousness Is at an All-Time Excessive’

The SLP ecosystem has change into highly regarded because the summer time of 2018 and there’s an entire universe of concepts and token tasks within the making. There have been 1000’s of SLP tokens created onchain and builders have even discovered tips on how to create nonfungible SLP tokens and pay BCH dividend funds to token holders. On the Strive Swift occasion in New York, Dominguez uncovered the advantages of SLP tokens fueled by the BCH chain to a world viewers.

The Honeypoints founders imagine the demonstration has proven attendees a real-world use case that leverages cryptocurrency options. The Honeypoints engineers defined in a press launch on Sep. 12 that the crew selected BCH as a result of it’s “20X cheaper” than utilizing token methods that stem from Ethereum. “Current checks of the Bitcoin Cash blockchain additionally proved that it will probably deal with extra transactions than Ethereum whereas protecting its prices low,” the press launch highlights. Furthermore, the startup emphasised Honeypoints token rewards system is friendlier to the setting than creating paper rewards packages.

Seeing the SLP system mature considerably, and after the Bitcoin Cash Metropolis convention in North Queensland, Australia, the Honeypoints creators Dominguez and Rocha imagine “Bitcoin Cash growth and consciousness is at an all time excessive.” To them, it’s the right time to launch the crypto rewards platform and the crew is at present onboarding their first retailers and types through the Honeypoints beta Telegram group. You’ll be able to observe the Tokyo-based startup’s Twitter web page for upcoming bulletins on when the appliance launches on the finish of the month. SLP platforms are showing left and proper nowadays, and the rewards system is one other token undertaking constructed utilizing the BCH chain in a novel method.

What do you concentrate on the Honeypoints utility? Tell us what you concentrate on this utility within the feedback part under.

Picture credit: Shutterstock, Honeypoints, Pixabay, and Twitter.

Do you know you’ll be able to confirm any unconfirmed Bitcoin transaction with our Bitcoin Cash Block Explorer device? Our block explorer may search the SLP universe of tokens too. Merely full a Bitcoin Cash or SLP token tackle to view it on the blockchain. Plus, go to our Bitcoin Charts to see what’s occurring within the business.

Tags on this story
Alfonso Rocha, App, utility, BCH, BCH Chain, bitcoin money, Bitcoin Cash Block Explorer, Demo, demonstration, Builders, Improvement, Honeypoints, Jean-Baptiste Dominguez, the big apple, Noncustodial, platform, Easy Ledger Protocol, SLP, SLP tokens, SLP Universe, Spice Token, Spicefeed, Token Rewards, tokenization, Strive Swift convention, Pockets

Jamie Redman

Jamie Redman is a monetary tech journalist residing in Florida. Redman has been an lively member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open supply code, and decentralized functions. Redman has written 1000’s of articles for concerning the disruptive protocols rising at the moment.

About Tom Greenly

Check Also

Defi Economy Rebounds: Total-Value Locked Jumps 28% Capturing Close to $9B

,The full-value locked (TVL) in decentralized finance (defi) financial system has recaptured a lot of …

A Spain Based Crypto Ponzi Scheme Abruptly Freezes Accounts of 120,000 Investors

A Spain based mostly crypto Ponzi scheme, Arbicorp abruptly froze accounts of extra 120,000 traders …